So, with great fanfare the Trump Administration has announced it is going to roll back fuel standards for cars and light trucks. In the future you will be buying more gas, and paying more taxes on that gas, for your gas guzzling car or truck. https://www.freep.com/sto...479082002/
However, I bet you didn't hear about the big tax break the Trump Administration gave the oil companies earlier this year--back in January, 2018. Let's review. "Without Fanfare, Oil Companies Just Received a Tax Break on New Year's Day" by Juliet Eilperin and Dino Grandoni, Washington Post, January 5, 2018
"Congressional Republicans allowed a tax on oil companies that generated hundreds of millions of dollars annually for federal oil-spill response efforts to expire this week — a move that amounts to another corporate break in the wake of lawmakers’ sweeping tax overhaul late last month.
The tax on companies selling oil in the United States generated an average of $500 million in federal revenue per year, according to the Government Accountability Office. The money, collected through a 9 cents-per-barrel tax on domestic crude oil and imported crude oil and petroleum products, constituted the main source of revenue for the Oil Spill Liability Trust Fund.
The fund has roughly $5.7 billion in reserve. Intended to help the government respond quickly to accidents on land or offshore, it was established in 1986 but only got a stable source of funding in the wake of the 1989 Exxon Valdez spill. . . . .
Environmentalists called the tax lapse another industry victory under President Trump at the expense of people and wildlife located near sites susceptible to spills.
“We see it as illustrative of the way in which Trump and the GOP continue to push giveaways for corporate polluters at any cost,” said Lukas Ross, a climate and energy campaigner at Friends of the Earth. “They had a tax bill that disproportionately benefited the fossil fuel industry, and then they allowed a $500 million-a-year tax on that same industry to expire.”"
Read more at:https://www.washingtonpos...b86766d340
I'm thinking this news story is another example of why Trump doesn't like The Washington Post
or its owner, Jeff Bezos. I'm also thinking Sinclair Broadcasting may not have broadcast the news story about the oil companies getting this new tax break.